BitcoinUpdated Bitcoin Macro Analysis - Entire Galaxies Will Be Destroyed Soon
Here's a Macro look at Bitcoin.
There are multiple bullish Elliott Wave counts (green, blue, red), and it's not clear which wave is it until the next major correction, but we're going up.
You get different target clusters depending on whether you think wave 4 and waves 3/5 are in or not.
We are already heavily overextended and well above any wave 1 based fib projections, entering the next phase of a parabolic trend
wave0-wave3 based projections measured from wave 4 will give the following targets:
Target 1: 10700
Target 2: 11250-11450
Target 3: 13350-13450
Resistance: 10400, 11800, 12100, 12450 - based on top of the blue channel, median lines of resistance zones
10000 is not a signifficant resistance and will likely be broken on weekend - retail traders have already sold at 6000 and don't have the supply to impede the move up, hoddlers will hodl and won't sell.
Notes:
- we can have a running red ABC flat in red wave (2) and in red wave 4 which imply an up trend
- wave 4 seems to be in, we are in the beginning of subwave 5 of wave (3) or wave (5) depending on which count you use
- or it can still be wave b of wave 4 of another running flat that goes above the end of wave (3)
- alternatively we can finish in an 12345 ending diagonal in wave (5)
- EWO seems to support the green count
- we are in an asc channel of a small pitchfork going up
- we are above the median line of the large pitchfork - bullish
- parabolic curve is rising more aggressively. if black parabolic curve and red trend line are broken expect a drop (that will be bought up) and sideways consolidation
- we have broken up from a smaller top range, retested it and made new highs - bullish so far
- fib targets are in confluence with the pitchfork's upper bands and the top of the blue channel, bottom of the red R zone
- daily momentum is still up, although starts slowing down
- daily RSI is above 50 in the bullish zone for quite a long time, has reset at 50 and is ready to go up once again
- daily RSI divergence has already played out, a new larger one is forming
Good Luck! This is Not A Financial Advice.
P. S.
As you can see, my young [bear] apprentice, your friends have failed. Now witness the firepower of this fully armed and operational battle station...
There are multiple bullish Elliott Wave counts (green, blue, red), and it's not clear which wave is it until the next major correction, but we're going up.
You get different target clusters depending on whether you think wave 4 and waves 3/5 are in or not.
We are already heavily overextended and well above any wave 1 based fib projections, entering the next phase of a parabolic trend
wave0-wave3 based projections measured from wave 4 will give the following targets:
Target 1: 10700
Target 2: 11250-11450
Target 3: 13350-13450
Resistance: 10400, 11800, 12100, 12450 - based on top of the blue channel, median lines of resistance zones
10000 is not a signifficant resistance and will likely be broken on weekend - retail traders have already sold at 6000 and don't have the supply to impede the move up, hoddlers will hodl and won't sell.
Notes:
- we can have a running red ABC flat in red wave (2) and in red wave 4 which imply an up trend
- wave 4 seems to be in, we are in the beginning of subwave 5 of wave (3) or wave (5) depending on which count you use
- or it can still be wave b of wave 4 of another running flat that goes above the end of wave (3)
- alternatively we can finish in an 12345 ending diagonal in wave (5)
- EWO seems to support the green count
- we are in an asc channel of a small pitchfork going up
- we are above the median line of the large pitchfork - bullish
- parabolic curve is rising more aggressively. if black parabolic curve and red trend line are broken expect a drop (that will be bought up) and sideways consolidation
- we have broken up from a smaller top range, retested it and made new highs - bullish so far
- fib targets are in confluence with the pitchfork's upper bands and the top of the blue channel, bottom of the red R zone
- daily momentum is still up, although starts slowing down
- daily RSI is above 50 in the bullish zone for quite a long time, has reset at 50 and is ready to go up once again
- daily RSI divergence has already played out, a new larger one is forming
Good Luck! This is Not A Financial Advice.
P. S.
As you can see, my young [bear] apprentice, your friends have failed. Now witness the firepower of this fully armed and operational battle station...
Note
As you can see, my young apprentice, your <bear> friends have failed. Now witness the firepower of this fully armed and operational battle station...Note
As you can see, my young apprentice, your bear friends have failed. Now witness the firepower of this fully armed and operational battle station...Note
screens for reference:Note
to invalidate the D1 divergence Bitcoin will have to reach 14350 (to match RSI 88 - blue line) which is roughly R3 pivot. And looking at pivots we just did that on the prev leg - a move from P to R4 monthly pivot was made. Impossible is nothingNote
Looking at Volume Profile - next HVN target is 11350 and it's near the top of the range. It's also the prev yearly Pivot. Buy the dips at D1, W1 and monthly EMA12 and EMA26: 8800, 8400, 7400, 6300 and 5650 if you're lucky. EMAs are fanning up on all timeframes, so expect more upside. For detailed explanation please see:
Note
Price Volume Action shows a fresh buy signal on H4 - candle sizes increase with volume => bullishNote
Admiral Ackbar: It's a Trap!Note
Fresh Price Volume Action buy signals on D1 and H4Note
Target 1 10700 Hit. Rebels just lost Admiral Ackbar's flagship Home One.Ten thousand years of peace begins today. Resistance will be crushed.
Note
Target 2 11450 is Hit. We are at 50% retracement of the ATH/ATL dominant swing.Princess Leia Organa is captured by the Imperial fleet to be held hostage for a time by Darth Vader. Alderaan has been destroyed by the Death Star in a demonstration of power. Until we lose H4 EMA 26 support there will be no negotiations with Rebel Alliance, only minor setbacks. If we clear 11800 the Empire will rise once again.
Note
Note
Price Volume Action on H4 shows a small sell signal on the first test of resistance, but after that selling has already decreased. Price and volume divergence is typical for corrective action signifying a change in trend to sideways or reversal, shows that the trend is on pause/weakening and losing momentum, but until we actually lose EMA support there will be no significant correction. If you are long wait for buy volume to go up with candle size on breakout as confirmation.Note
D1 also gives a sell signal as we go into resistance, but it can be invalidated by the next candle/day's buy signal after tomorrow's breakout if volume is high enough.Consolidating just below the major resistance is bullish.
Note
fresh buy on a D1 Price Volume Action. Trend is strongNote
Target 3 13450 Hit, Rebel Alliance suffers a crushing defeat on Hoth by 501st LegionNote
Everything that has transpired has done so, according to my design...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.